Tashkent, Uzbekistan (UzDaily.com) -- Since 2006, the function of the Eurasian Development Bank (EDB) has been aimed at developing integration processes in the Eurasian space, as well as ensuring the economic growth of the member states of this structure. The EDB members are Russia, Belarus, Armenia, Kyrgyzstan, Kazakhstan and Tajikistan.

As of September 2020, the bank’s investment portfolio amounted to almost US$4.27 billion and includes 88 projects in 6 member states. The total amount of EDB investments in the economies of the member countries of the organization has already reached US$9.4 billion. The Eurasian Bank invests money in those projects that enhance integration, and among the main areas of its activities are energy (15% of the project portfolio), including “green”, transport and infrastructure (over 25%) and the financial sector.

Recently, the EDB has begun to pay special attention to the Central Asian region. The EDB financed 6 projects in Tajikistan for a total amount of more than US$50 million. Additionally, funds were invested in 4 more large projects worth 132 million. In addition, the EDB became interested in the implementation of investment projects for the construction of industrial enterprises in the Free Economic Zone (FEZ) "Kulyab".

In August 2020, the EDB has agreed on assistance to Kyrgyzstan in the amount of US$100 million for the implementation of a program to counter the impact on the economy and social sector of the COVID-19 pandemic.

The most serious cooperation of the EDB in the Asian region has developed with Kazakhstan. During the period of cooperation, the bank was able to participate in 78 projects totaling US$3.6 billion, or 38% of the total volume of investments in only 9 months of 2020. The EDB financed projects worth US$314 million. At the same time, the construction of a new International Airport in Turkestan and the Big Almaty Ring Road were major projects. The total volume of projects in Kazakhstan in the bank’s portfolio at the end of the year is projected at US$1.5 billion. The financed projects for the development of production, logistics and energy will give impetus to the development of the entire region.